Binance and Paxos's BUSD: High Quality Reserves, Audits, and Regulation
This regulated statuswhich restrict the actions that Paxos is allowed to undertake. This is in addition to the NYDFS having the authority to evaluate Paxos’ operations and oversee the stablecoin.
Paxos also uses major financial markets custodians to hold the securities within the BUSD reserve, meaning even if everyone at Paxos were to cease to exist, those securities and the dollars on deposit at banks are still identifiable and retrievable for the benefit of the token holders. Even in the unlikely event of this occurring, the assets are safe and secure, and another entity will be appointed to unwind the reserves and return the money to the BUSD holders.
That’s it! No other stuff is allowed to be in the reserves. There are also a couple of other restrictions on investment to keep the reserve as safe as is reasonably possible:
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